Location

The President of the Institute and Faculty of Actuaries, Nick Salter and the Public Affairs Director, Paul Reynolds will be visiting Hong Kong on Monday 29 September 2014.

Nick and Paul would like to take this opportunity to meet all IFoA members in Hong Kong. They would also like to present the 2014 Sir Edward Johnston prizes to the winners as well as the two honorary fellows awards. An event has therefore been arranged at the British Consulate in Hong Kong and we invite all IFoA members to attend.

Location

This workshop is aimed to be practical as well as cover current issues that will impact the work performed by the AFH. The morning session will focus on preparation for year end and the afternoon will focus beyond year end looking to the implementation of Solvency II and the impact on the AFH and their role going forward.

The event will involve interactive sessions and lively debates will be encouraged!

This event is intended for:

• AFHs

• Reviewing Actuaries

• Senior actuaries either working for life offices or consultancies that are involved in year-end valuations and capital modelling.

It will also be of interest to senior people outside of these work streams that want to get an update of what current issues are in this area such as FDs, CEOs and senior management.

Location

The IFoA recently set up a working party to investigate Cause of Death Modelling.

The chair of the working party, Donald MacLeod, will discuss the reason for setting it up, describe the work carried out to date by the working party, and highlight some of the challenges and opportunities for actuaries which have become evident as a result of the working party.

Location

Producing and maintaining good quality model documentation is an essential part of daily actuarial work. Representatives from the PRA, audit and from actuarial education share their view on what good quality model documentation looks like

Who should attend?

• Particularly beneficial for those less familiar with CA2 or Solvency II

• For those interested in PRA, internal audit and actuarial education insights

Location

The EAAC is the premier event for the actuarial profession in Asia. Attracting over 500 actuaries and industry professionals from around globe, this event provides a fantastic opportunity for both members and those working closely to the profession, to come together to share their experience and thoughts through forums and discussions. The theme of this year’s event is ‘Risk, Challenges and Opportunities’. Featuring an exceptional programme of plenary sessions, there will also be up to 18 information packed concurrent sessions covering diverse practices of the conference topic. For the full event and social programme, please click here.

IFoA activities

Senior Executive members of the IFoA will be attending the 18th East Asian Actuarial Conference and are proud to be a gold sponsor of this prestigious event. The IFoA are also sponsoring the tea break on Monday 13 October so please do come say hello. Derek Cribb, Chief Executive will also be providing a 10 minute presentation about CERA Global Association (CGA). Attending as both a sponsor and exhibitor, we will have an IFoA stand and a CERA stand.

IFoA reception evening

On Monday 13 October, a canape, drinks reception will be held at the Cosmos Hotel, TICC Hsin-Yi branch from 17.00-19.00 for all IFoA members attending the conference as well as those living in Taipei. For any further enquiries, please click here.

IFoA stand

Located at B3, delegates are invited to visit the stand to learn more about the new analyst qualification, volunteering, working parties, latest research and other member benefits. There will also be an opportunity to browse the new China microsite which has been created to improve communication and increase our visibility in China and South-east Asia.

CERA stand

Located at A4, delegates will be provided with information on the Certified Actuarial Analyst membership qualification as well as CERA. The current members of CERA span five continents and the number of Treaty Award Signatories continues to grow.

Location

We are delighted to have secured Matt Lilley, CEO Africa for Prudential plc to give us insight into Prudential’s ambitions in Africa, its recent acquisitions and plans for the future. It is an excellent opportunity to hear first-hand from an industry leader driving strategy and growth across Africa. It also provides a good chance to earn CPD and network following the stress of the exams.

Matt Lilley is CEO Africa at Prudential, leading the building of the company’s business across the continent. He has been at Prudential for 5 years, and was previously Director of Strategy, responsible for strategic planning, business development and M&A across the Group. Matt previously worked at Boston Consulting Group and Lehman Brothers and has a BA in maths and a Ph.D. in theoretical physics from Cambridge University. Matt spent a year studying in Pennsylvania as a Thouron Scholar.

Venue: Cass business School, 106 Bunhill Row, London EC1Y 8TZ (Closest tube is Moorgate)Time: Registration will begin at 18:00 with the presentation commencing at 18:30 followed by drinks, snacks and networking.Cost: £10 for student members of the Institute and Faculty and £20 for all other attendees

Location

Insurance linked securities have developed into an asset class in their own right with $6 billion of new cash being invested in the first half of 2014 and accounting for 15% of the property cat market capacity.

Speakers will explore why this class has been growing at over 20% p.a. the types of investments available and the regulatory and operational framework underpinning the class.

Location

Industry expert George McCutcheon, Financial Risk Solutions Ltd, will examine the impact of the new ABI Guidance for the Governance of Unit Linked Funds.

The first talk could appeal to both Life and pensions actuaries (i.e. advisers to DC pension schemes investing in Unit Linked Funds). The second talk considers specifically the Taxation of Unit Linked funds. There will be a short break between the first and second talks to allow attendees who only wish to attend talk one to leave.

Location

The seminars cover highlights from this year’s Pensions Conference as well as current issues in the pensions sector. Designed for qualified, newly qualified and non actuaries, they will keep you and your organisation updated within your field with a mix of technical and topical subjects.

Plenary Sessions will include:

Economic Outlook

Update on current regulatory issues

What's Hot in Mortality and Longevity Research

You can also choose from a range of workshops so you can focus on the subject areas most relevant for you.

Location

This event will introduce the concept of stranded assets to the actuarial profession, use specific example of the assumed carbon bubble, outline possible implications for actuarial work and suggest further avenues for personal member research and CPD.

Presentations will provide an exposition on stranded assets; what are they, what environment-related risks can cause them, which sectors might be affected over which time horizons, the implications for the investment chain and a discussion on the literature to date. The event will close with an informal panel discussion.

Many areas of actuarial work require the use of models, but we seldom have solid grounds to believe that a chosen model is the same, or even close, to the process that generated past observations. Prudence demands that we investigate possible explanations, and consider carefully the business implications of using a model that may turn out to be wrong.

Andreas Tsanakas and Andrew Smith discuss Monte Carlo techniques for investigating the impact of model ambiguity. Focus is on VaR calculations and the associated back-testing criterion for assessing the quality of estimation procedures. Approaches to incorporate such uncertainty into decision-making are discussed, reflecting the need for

Location

It has become increasingly obvious that the facts and figures we learnt in the economics classroom are often not played out in the real world. Simple experiments on human behaviour give us some real insights into how the human brain works.

We assume that actuaries are well versed in their practice areas and act as rational beings. But what if the opposite was true and they actually acted irrationally?

Can we do experiments in the real world to predict behaviour and use these psychological factors in actuarial modelling and communication?

Location

Richard Purcell and Adam Noach will look at how harnessing behavioural science could be a game changer for life insurance. They will look at various behavioural theories and how they could be integrated within life insurance products to increase the value to customers and help insurers manage risk more effectively.

Refreshments will be served from 17:30 and the lecture will start promptly at 18:00. There is no need to register in advance for this meeting and non-members are welcome. There will also be live tweeting available via #SIASNov14 during the talk – please do get involved with any comments and questions for the speaker.

Location

The Joint Forum on Actuarial Regulation (‘JFAR’) was established in 2013 by the Financial Reporting Council, the Institute and Faculty of Actuaries, the Financial Conduct Authority, the Pensions Regulator and the Prudential Regulation Authority to co-ordinate the identification and analysis of public interest risks to which actuarial work is relevant.

We will be holding a discussion event at the IFoA office in Edinburgh at 5.30pm on Tuesday 25th November and we would very much like you to join us and give your views on the risks discussed in the paper.

Representatives from the JFAR regulators will be attending to give further context and answer questions you may have on the paper. Please also circulate to others in your organisation who may be interested in attending.

Location

This event will be hosted by the Yorkshire Actuarial Society and will cover the following:

Many areas of actuarial work require the use of models, but we seldom have solid grounds to believe that a chosen model is the same, or even close, to the process that generated past observations. Prudence demands that we investigate possible explanations, and consider carefully the business implications of using a model that may turn out to be wrong.

Location

The IFoA are introducing a series of Masterclass events taking place from November 2014 - January 2015.

Personal Impact Masterclass (08.30 - 10.30. Registration from 08.00)

This masterclass will introduce you to the power of non-verbal intelligence and communciation. Delegates will learn practical techniques to use in your every day professional interactions which will increase your credibility, influence and gravitas. The session will cover:

What is non-verbal intelligence?

How to use your hands, eyes and voice patterns to ensure that what you say is in line with what people see

Giving feedback

Behavioural range - conveying credibility and approachability

Knowing and satisfying your audience

The Masterclass Series:

Tracy Sinclair, Professional Development trainer and facilitator will be presenting the above two hour masterclass on Personal Impact as an introduction to a series of half-day masterclasses that will include:

A late booking fee of £50 will be added to the delegate fee from 12 November 2014.

Cancellations of a booked place will receive a refund minus 20% administrative fee if cancelled before 12 November. Any cancellations made after 12 November will not be offered a refund, though a colleague can attend in your place.

Location

The seminars cover highlights from this year’s Pensions Conference as well as current issues in the pensions sector. Designed for qualified, newly qualified and non actuaries, they will keep you and your organisation updated within your field with a mix of technical and topical subjects.

Plenary Sessions will include:

Economic Outlook

Update on current regulatory issues

What's Hot in Mortality and Longevity Research

You can also choose from a range of workshops so you can focus on the subject areas most relevant for you.